The health of a SaaS business is directly tied to its ability to retain its customers and prevent churn. To do this, they have to ensure that their customers are happy. This blog post discusses how to measure customer happiness, and […]. That means making sure they get the promised business benefits they signed up for.
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Identifying how to retain customers is one of the most important tasks a business faces. Companies tend to focus more on acquiring customers even though it can cost 7x more. Below are 5 strategies to keep your customers loyal to your brand
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Has your company’s customerretention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customerretention strategy? In a study by Harvard Business School , it was found that increasing customerretention by even 5% can increase profits between 25-95%.
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Building these steps into your operations will help you to significantly improve customerretention and create significant value for your business. We hate to sound like a broken record, but we can't say it enough—developing loyal customers is the most important thing you can do for your business.
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This week we’re talking about activation, retention and its polar opposite – churn. As you will see, churn and retention are the most important metrics to the long-term success of a SaaS business. Churn is the % of users / customers that abandon the service over time. You see similar patterns with paying customers.
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